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Oil prices tumble with US inventories bulging

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posted on Jan, 14 2009 @ 01:51 PM

Light, sweet crude for February delivery fell more than 4 percent, or $1.56 per barrel, to $36.22 a barrel on the New York Mercantile Exchange after trading as high as $39.45.

Yahoo news

Oil is under $40/barrel and yet gas prices have risen to $2.00/gallon.

This is after the production cuts urged by Russia/Iran and chavez.

posted on Jan, 14 2009 @ 03:44 PM
it's not only theUSA ....
the talking heads on TV tell us that most all the world's oil tankers are filling up on crude....

and are just sitting offshore with a full load of crude...
waiting for the price to go up to find out their destination.


[edit on 14-1-2009 by St Udio]

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